Connect with us

Technology

Calibration Services Market to Grow by USD 1.79 Billion from 2024-2028, Strict Regulations on Product Safety, Quality, and Compliance Drive Growth, Report Highlights AI’s Impact on Market Dynamics – Technavio

Published

2 years ago

on

NEW YORK, Aug. 29, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global calibration services market size is estimated to grow by USD 1.78 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.54% during the forecast period. Stringent regulations related to product safety, quality, and compliance is driving market growth, with a trend towards launch of new calibration solutions by vendors. However, shortage of skilled calibration professionals poses a challenge. Key market players include ABB Ltd., Beamex Oy AB, Bureau Veritas SA, Endress Hauser Group Services AG, ESSCO Calibration Laboratory, Eurofins Scientific SE, Fluke Corp., Hexagon AB, Intertek Group Plc, Keysight Technologies Inc., Micro Precision Calibration, Mitutoyo America Corp., National Instruments Corp., Omega Engineering Inc., Pratt and Whitney Measurement Systems, Inc., Rohde and Schwarz GmbH and Co. KG, SGS SA, Siemens AG, SIMCO Electronics, Tektronix Inc., Transcat Inc., Trescal International SAS, and Viavi Solutions Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Calibration Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

–

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.54%

Market growth 2024-2028

USD 1786.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.36

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 42%

Key countries

US, China, Germany, UK, Japan, and India

Key companies profiled

ABB Ltd., Beamex Oy AB, Bureau Veritas SA, Endress Hauser Group Services AG, ESSCO Calibration Laboratory, Eurofins Scientific SE, Fluke Corp., Hexagon AB, Intertek Group Plc, Keysight Technologies Inc., Micro Precision Calibration, Mitutoyo America Corp., National Instruments Corp., Omega Engineering Inc., Pratt and Whitney Measurement Systems, Inc., Rohde and Schwarz GmbH and Co. KG, SGS SA, Siemens AG, SIMCO Electronics, Tektronix Inc., Transcat Inc., Trescal International SAS, and Viavi Solutions Inc.

Market Driver

The Calibration Services Market is a significant industry that ensures the accuracy and reliability of measuring instruments. Providers offer on-site and laboratory calibration services using advanced equipment. Businesses across various sectors rely on calibration services to maintain product quality and regulatory compliance. The market is driven by increasing industrial automation and growing demand for precision measurement. Providers focus on delivering timely and cost-effective solutions to meet customer needs. 

Calibration services play a crucial role in ensuring measurement accuracy and quality assurance across various industries. Key trends in this market include the use of advanced calibration equipment such as optical power meters, network analyzers, power analyzers, and voltage meters. Sectors like aerospace, manufacturing, energy and utilities, electronics manufacturing, biotechnology, and military are major consumers of calibration services. Services offered include electrical and mechanical calibration, thermodynamic calibration, and physical/dimensional calibration. Communication, instrument management, procurement facilitation, and equipment rental options are also part of the value proposition. Calibration services are essential for industries dealing with precision manufacturing, 5G technology, autonomous vehicles, augmented reality, and virtual reality. Key end-users include aerospace and defense, oil and gas, power generation, chemicals, water, telecommunications, semiconductors, healthcare, and life sciences. Calibration services provide calibration for various instruments like soldering stations, digital multimeters, clamp-on multimeters, data acquisition systems, clamp-on calipers, thermocouples, thermistors, and platinum resistance thermometers. With the evolving technology landscape, calibration services continue to adapt and innovate to meet the changing needs of businesses. 

Explore a 360° Analysis of the Market: Unveil the Impact of AI. For complete insights- Request Sample!

Market Challenges

The Calibration Services Market ensures accurate measurement and maintenance of equipment and instruments. Providers offer on-site and laboratory calibration services using advanced technology. Businesses benefit from improved product quality, increased efficiency, and regulatory compliance. Calibration services save costs by reducing equipment downtime and extending asset life. Companies in various industries, including manufacturing, healthcare, and energy, rely on calibration services for precision and reliability.The Calibration Services Market faces numerous challenges in various industries such as 5G technology, autonomous vehicles, and those utilizing Augmented Reality and Virtual Reality. Precision manufacturing, Aerospace and Defense, Oil and Gas, Power Generation, Chemicals, Water, Telecommunications, Semiconductors, Healthcare, and Life Sciences all require calibration services to ensure Quality Standards and adherence to Regulatory Requirements. Calibration services involve calibration devices for heat, pressure, temperature, optical, electrical, photoelectric measurements. Original Equipment Manufacturers (OEMs) and Third-party calibration services cater to self-calibrated devices and calibration solutions. Industries rely on calibration labs for in-house calibration, using instruments like analog multimeters, calipers, chart recorders, clamp-on ammeters, data loggers, dial indicators, digital multimeters, force gauges, micrometers, oscilloscopes, signal analyzers, and spectrum analyzers. Tolerances and built-in self-calibration features are essential considerations.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This calibration services market report extensively covers market segmentation by 

Service Type1.1 Electrical1.2 Mechanical1.3 Thermodynamic1.4 Dimensional/physicalService 2.1 Third party vendors2.2 In-house laboratories2.3 OEMsGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Electrical- The Calibration Services Market ensures accurate measurement and maintenance of equipment through regular calibration. This essential service improves process efficiency, enhances product quality, and ensures regulatory compliance. Calibration providers offer on-site and laboratory services using advanced technology and certified technicians. By investing in calibration services, businesses minimize downtime, reduce costs, and maintain a competitive edge in their industries.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Calibration Services Market is experiencing significant growth due to the increasing demand for accuracy and precision in various industries. With the advent of 5G technology, the need for calibration services in telecommunications is surging. In the transportation sector, autonomous vehicles and advanced driver-assistance systems (ADAS) require frequent calibration for optimal performance. In industries such as aerospace and defense, power generation, oil and gas, chemicals, water, and precision manufacturing, calibration services are essential for ensuring product quality and safety. Calibration services encompass both in-house and outsourced solutions. Calibration management software facilitates efficient tracking and scheduling of calibration activities. A wide range of calibration equipment is used, including analog multimeters, calipers, chart recorders, clampon ammeters, data loggers, dial indicators, digital multimeters, force gauges, micrometers, and more. Electrical calibration and electronics manufacturing also require specialized calibration services. Military calibration services cater to the unique needs of the defense industry. Transmitter test software ensures the accuracy of measurement instruments in various applications.

Market Research Overview

Calibration services play a crucial role in ensuring measurement accuracy and maintaining regulatory compliance across various industries. With the advent of advanced technologies like 5G, Autonomous vehicles, Augmented reality, and Virtual reality, the demand for precise calibration is increasing. Precision manufacturing sectors such as Aerospace and defense, Oil and gas, Power generation, Chemicals, Water, Telecommunications, Semiconductors, Healthcare, and Life sciences rely heavily on calibration services for their equipment. Calibration services encompass various types, including calibration labs for in-house calibration and third-party calibration services. Self-calibrated devices and built-in self-calibration features are also gaining popularity. Calibration solutions cater to diverse applications, including heat, pressure, temperature, optical, electrical, photoelectric, and more. Industries require calibration for various types of equipment, such as analog and digital multimeters, calipers, chart recorders, clampon ammeters, data loggers, dial indicators, oscilloscopes, signal analyzers, spectrum analyzers, optical power meters, network analyzers, power analyzers, soldering stations, and voltage meters. Calibration services help maintain measurement accuracy, ensure quality assurance, and facilitate procurement and equipment rental options. They cater to industries like manufacturing, energy and utilities, electronics manufacturing, biotechnology, and military. Calibration services adhere to quality standards and regulatory requirements, providing solutions for electrical and mechanical calibration, thermodynamic calibration, and physical/dimensional calibration. Communication and instrument management are also essential aspects of calibration services, ensuring seamless integration and efficient operations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Service TypeElectricalMechanicalThermodynamicDimensional/physicalServiceThird Party VendorsIn-house LaboratoriesOEMsGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/calibration-services-market-to-grow-by-usd-1-79-billion-from-2024-2028–strict-regulations-on-product-safety-quality-and-compliance-drive-growth-report-highlights-ais-impact-on-market-dynamics—technavio-302234148.html

SOURCE Technavio

Related Topics:
Continue Reading

Technology

JinkoSolar Unveils Tiger Neo 5.0 All-Black Residential Solar Module with 25.52% Efficiency

Published

2 minutes ago

on

October 17, 2026

By

SHANGRAO, China, Oct. 17, 2026 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), today unveiled Tiger Neo 5.0, an all-black residential solar module built on its all-new TAC technology. The first version to reach the market, an all-black 48-cell module, delivers a maximum power output of 510 W with a module efficiency of 25.52%. It was designed to redefine the upper limits of what a scenario-specific module can deliver in both appearance and efficiency for premium homes and other architecturally refined residences.

The module showcases a deeper, more uniform and more refined black appearance than conventional back-contact (BC) modules. Semiconductor-grade low- and high-temperature processes bring the power temperature coefficient down to -0.24%/℃, meaning stronger energy yield in high-temperature environments.

TAC technology combines the excellent carrier transport of TOPCon with the low-temperature processing and positive electrode passivation of HJT, pushing peak cell efficiency to 28%, approaching the theoretical limit of monocrystalline silicon cells. Together with a zero-gap cell layout and hidden-ribbon technology at module level, the module achieves an efficiency of 25.52%. Compared with conventional BC products, it delivers approximately 30 W more power, and a lower temperature coefficient. Its deeper, more premium black appearance blends seamlessly into residential rooftops— especially dark-colored ones — making it a standout in the residential module category for both power and aesthetics.

“Our vision for Tiger Neo 5.0 was to develop a panel tailored to premium residential rooftops. It pushes the boundaries of both performance and aesthetics with innovations in cell technology, passivation processes, structural design, module format and interconnections. With this launch, we aim to help move the industry toward solutions tailored to specific applications,” said Charlie Cao, CEO of Jinko Solar Co., Ltd.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a holding company combining clean energy industrial operations and strategic investment in emerging technologies. Its industrial foundation is a controlling interest in Jinko Solar Co., Ltd. (SSE: 688223), a global leader in clean energy technology. The Company makes disciplined strategic investments in renewable energy, advanced materials, artificial intelligence, commercial space and other frontier technologies, drawing on its industrial experience and its ability to identify emerging technologies and bring them to commercial scale.

Through Jinko Solar Co., Ltd., the Company distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar has over 10 production facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2026.

To find out more, please see: www.jinkosolar.com 

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

View original content:https://www.prnewswire.com/news-releases/jinkosolar-unveils-tiger-neo-5-0-all-black-residential-solar-module-with-25-52-efficiency-302911814.html

SOURCE JinkoSolar Holding Co., Ltd.

Continue Reading

Technology

AGFUND wins international award for excellence in inclusive banking and social impact

Published

1 hour ago

on

October 17, 2026

By

 Prince Abdulaziz bin Talal credits the founders of AGFUND’s microfinance banks for laying the foundations of its development impact

BANGKOK, Oct. 17, 2026 /CNW/ — The Arab Gulf Programme for Development (AGFUND) won the “Excellence in Inclusive Banking and Social Impact” award at the 2026 Sustainable Development Goals Awards, organized by the World Savings and Retail Banking Institute (WSBI) in cooperation with the European Savings and Retail Banking Group (ESBG).

AGFUND CEO Hammam bin Nasser bin Juraid accepted the award in Bangkok, Thailand, alongside the Annual Meetings of the International Monetary Fund and World Bank Group.

HRH Prince Abdulaziz bin Talal bin Abdulaziz, President of AGFUND, said the recognition acknowledges AGFUND’s experience using financial services to empower underserved communities, strengthen livelihoods and promote economic independence.

He credited the founders of AGFUND’s microfinance banks, particularly the late Prince Talal bin Abdulaziz, for establishing institutions centered on empowering people.

He added that the award reflects over two decades of commitment, the dedication of financial inclusion banks and partners, and clients who transformed financing into businesses and family income. He emphasized expanding opportunities and measuring success through lasting improvements in people’s lives.

Prince Abdulaziz stressed that the recognition reflects the value of institutions reaching excluded populations and encourages broader access and economic opportunities for families.

AGFUND’s financial inclusion banking network has served more than 1.3 million clients and disbursed over US$1.37 billion in financing since inception. Women represent 59 per cent of borrowers, demonstrating its contribution to economic empowerment.

Presented by WSBI, established in 1924, together with ESBG, the award recognizes an approach linking financial services, social impact and sustainable development.

Following its first bank in Jordan in 2004, AGFUND expanded across nine countries: Jordan, Yemen, Bahrain, Syria, Lebanon, Palestine, Sudan, Mauritania and Sierra Leone, focusing on communities underserved by conventional financial institutions.

The network has issued more than 1.5 million loans, opened over 927,000 savings accounts, established 112 branches and employed more than 1,500 people. Its services finance micro and small enterprises and income-generating activities, improving livelihoods and economic independence.

AGFUND plans to strengthen development partnerships, advance digital solutions and innovative financial products, and integrate financing with training, capacity development, market access and risk protection.

It is also exploring geographic expansion, particularly in Africa, through institutional partnerships that adapt successful approaches to local needs and extend sustainable financial inclusion to more communities.

Website – https://agfund.org/

View original content to download multimedia:https://www.prnewswire.com/news-releases/agfund-wins-international-award-for-excellence-in-inclusive-banking-and-social-impact-302911811.html

SOURCE The Arab Gulf Programme for Development (AGFUND)

Continue Reading

Technology

GAC Showcases Multiple Models at Canton Fair: Systemic Global Expansion as a Response to High‑Level Opening‑Up

Published

2 hours ago

on

October 17, 2026

By

GUANGZHOU, China, Oct. 17, 2026 /PRNewswire/ — On 15 October, the 140th China Import and Export Fair (Canton Fair) kicked off in Guangzhou. Dubbed “China’s No.1 Exhibition” with a 70‑year history, it serves as a vital window for global merchants to understand China, and one of GAC’s stages to connect with the world. For international buyers, GAC serves not only as a sourcing platform but as a trusted channel for experiencing Chinese automotive innovation and building long-term local partnerships. Having made its debut in 2012, GAC has participated in the fair 30 times to date. Together with the Canton Fair, it has witnessed the transformation of Made‑in‑China products into Chinese global brands.

This transformation is reflected in GAC’s global expansion journey through a string of continuously refreshed sales figures. Overseas sales stood at 90,000 units in 2024, hit 130,000 units in 2025, and exceeded 197,000 units in January‑September 2026, representing a year‑on‑year surge of 138.9%. GAC is sprinting full steam ahead toward its annual target of 300,000 overseas units. GAC has accomplished a shift from “product export” to “system‑level global expansion”.

At the GAC booth, XT80, AION i60 and AISTALAND GX7 showcased intelligent driving, three-electric systems and premium cabins. The energy-ecology zone featured DC ultra-fast charging piles, 7 kW smart home chargers, multi-in-one electric drive units and PV-Storage-Charging-Swapping Technology, addressing range anxiety. Opening day drew buyers from Southeast Asia, the Middle East, Europe, Latin America and Africa. At the Music & Cuisine Festival, GAC built three immersive spaces blending smart mobility, Cantonese cuisine, camping and sports. The XT80, AION N60, GAC S7 and AISTALAND GT7 served as lifestyle carriers, letting guests enjoy morning tea, global cuisines and intangible cultural heritage.

GAC will advance its ONE GAC 2.0 strategy, deepening localized operations and expanding its systematic global layout. As a tribute to the Canton Fair’s 70th anniversary and a new business card for China’s auto industry, GAC will help drive Chinese intelligent manufacturing onto the global stage.

For further information about GAC, please visit https://www.gacgroup.com/en or follow us on social media.

 

SOURCE GAC

Continue Reading

Trending